NEW PROVIDENCE, N.J., Jan. 24, 2018 (GLOBE NEWSWIRE) — ReadyCap Lending, LLC (“ReadyCap”), a nationwide Small Business Administration (“SBA”) Preferred Lender, is excited to be among the top 25 overall SBA 7(a) originators nationwide in the fourth quarter of 2017 (1). This measure is based on SBA’s quarterly publication of the 100 most active SBA 7(a) Lenders, ranked by the organization’s Office of Capital Access. ReadyCap obtained 59 loan authorizations for total committed loan amount of $51.5 million in the quarter. This represents an increase of 393% from the same period last year. The increase is a direct result of ReadyCap’s continued mission in providing solutions to access capital and assist small business owners throughout the United States.
John Moshier, President and CEO of ReadyCap commented, “We are sincerely committed to helping the small business owner grow their business by providing access to capital when traditional sources may not be available for new and existing businesses. Our experienced team members are excited to assist small business owners by providing critical capital to acquire owner-occupied commercial real estate, equipment, purchase an existing business or restructure debt.” Moshier continues, “ReadyCap is positioned to grow along with the many businesses seeking capital. We plan to continue to hire new team members to support our growth and provide the highest level of customer service.”
An SBA 7(a) loan is a small business loan provided by a qualified lender and partially guaranteed by the United States government to eligible small businesses. The terms of a SBA 7(a) loan can provide up to a 25-year loan term to qualified projects.
About ReadyCap Lending
ReadyCap Lending, LLC (www.rclending.com), is a licensed small-business loan specialty finance company offering SBA 7(a) loans up to $5 million to small businesses throughout the United States. Based in New Providence, New Jersey, ReadyCap Lending is a subsidiary of ReadyCap Commercial, LLC, a wholly owned indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation (“Sutherland”). Sutherland, a publicly traded REIT (NYSE: SLD), is a real estate finance company that acquires, originates, manages and finances commercial real estate loans, and to a lesser extent, asset-backed securities where the underlying pool of assets consists primarily of commercial real estate loans and other real estate-related investments. For more information, visit www.rclending.com, or call 800-817-4984.
(1) The period is SBA’s first quarter of its reported fiscal year.